I-80 Gold - IAUX STOCK NEWS

i-80 Gold Corp (TSX: IAU) (NYSE: IAUX) announced an updated preliminary economic assessment (2025 PEA) for its Cove Project in Nevada. The study reveals an after-tax NPV(5%) of $271 million and an IRR of 30% at $2,175/oz gold price.

Key highlights include:

• 8-year mine life with average annual gold production of 100,000 ounces
• Estimated cash costs of $1,194/oz and all-in-sustaining costs of $1,303/oz
• Updated mineral resources: 311,000 oz indicated (8.2 g/t) and 1.16 Moz inferred (8.9 g/t)
• Mine construction capital estimated at $157 million
• Production expected to ramp up during 2029

The project will utilize both i-80's Lone Tree autoclave facility and a third-party roasting facility for processing. A feasibility study is targeted for completion in Q4 2025.

i-80 Gold Corp (TSX: IAU) (NYSE: IAUX) has announced an updated preliminary economic assessment (2025 PEA) for its Cove Project in Nevada. The study reveals an after-tax NPV of $271 million with a 30% IRR at $2,175/oz gold price.

Key highlights include:

• 8-year mine life with average annual gold production of ~100,000 ounces
• Updated mineral resource: 311,000 oz indicated (8.2 g/t) and 1.16 Moz inferred (8.9 g/t)
• Mine construction capital estimated at $157 million
• Cash costs of $1,194 per ounce and all-in-sustaining costs of $1,303 per ounce

The project will utilize both cut-and-fill and bench-and-fill mining methods, with processing split between i-80's Lone Tree autoclave facility (60%) and a third-party roasting facility. A feasibility study is targeted for completion in Q4 2025, incorporating ongoing drill results not included in the current PEA.

i-80 Gold Corp (TSX: IAU) (NYSE: IAUX) has successfully completed its previously announced prospectus offering, raising approximately C$22.57 million through the sale of 28,212,593 common shares at C$0.80 per share. The offering was made available across Canadian provinces and territories (excluding Québec) through a prospectus supplement dated January 27, 2025, to its short form base shelf prospectus from June 21, 2024.

The company also expects to close a separate private placement offering to certain directors and officers in early February 2025, pending regulatory approvals from the Toronto Stock Exchange and NYSE American.

i-80 Gold Corp (TSX: IAU) (NYSE: IAUX) has filed a prospectus supplement for an upsized offering of common shares. The offering size has been increased from US$10 million to US$20 million (C$29 million), consisting of a minimum of 18,000,000 shares and a maximum of 36,250,000 shares at C$0.80 per share.

The offering is expected to close around January 31, 2025, subject to regulatory approvals. Additionally, the company announced a concurrent private placement of up to 1,004,208 subscription receipts at C$0.80 per receipt for gross proceeds of up to C$803,367 with company directors and officers. The private placement proceeds will be held in escrow until certain conditions are met, including shareholder and regulatory approvals.

i-80 Gold Corp (TSX: IAU) (NYSE: IAUX) has announced the pricing of its previously announced prospectus offering at C$0.80 per share, targeting aggregate gross proceeds of US$10,000,000. The net proceeds will be used for developing the company's Nevada projects and for working capital purposes, as the company works towards completing the second phase of its recapitalization plan by March 31, 2025.

The offering will be made through a prospectus supplement to the company's short form base shelf prospectus filed on June 21, 2024. The offering requires regulatory approvals from the Toronto Stock Exchange and NYSE American, along with other customary closing conditions. No commission or finder's fee will be paid for this offering.

i-80 Gold Corp (TSX: IAU) (NYSE: IAUX) has completed the amendment and restatement of its convertible credit agreement with Orion Mine Finance. Key changes include: extending the maturity date by six months to June 30, 2026, implementing security measures for company obligations, and issuing 5 million common share purchase warrants to Orion with an exercise price of C$1.01, expiring January 15, 2029.

The company also announced plans for a US$10 million prospectus financing of common shares, expected to close around January 31, 2025. Major shareholders, board members, and management team have indicated their intention to participate. The proceeds will support the development of Nevada projects and working capital needs as the company progresses toward completing its second phase recapitalization plan by March 31, 2025.

i-80 Gold Corp (TSX: IAU, NYSE: IAUX) has reached an agreement with convertible debenture holders to amend the terms of its $65 million convertible debentures as part of its second phase recapitalization plan. The amendments include three key changes: 1) Modifying the conversion price for outstanding and accrued interest to reflect a 15% discount to the 5-day volume weighted average price on TSX; 2) Removing the Company's right to grant pari-passu security against McCoy-Cove, making debenture holders senior secured on this asset; and 3) Adding a new redemption right allowing the Company to redeem debentures at a 104% premium plus accrued interest.

These changes follow the October 15, 2024 appointment of a debenture holders' committee representing approximately 66 2/3% of the principal amount. The Company expects to complete its recapitalization plan by the end of Q1 2025.

i-80 Gold Corp (IAUX) has completed the first phase of its recapitalization plan by securing agreements with Orion Mine Finance to defer December 2024 gold and January 2025 silver deliveries to March 31, 2025. The deferral includes 3,210 ounces of gold and 400,000 ounces of silver. As part of the agreement, i-80 will issue five million common share purchase warrants to Orion and enter into a new offtake agreement.

The company plans to release Preliminary Economic Assessments for all five gold projects in Q1 2025, alongside feasibility studies for Granite Creek underground and McCoy-Cove underground in Q4 2025. A class III engineering study for the Lone Tree autoclave refurbishment is expected in H2 2025.

i-80 Gold Corp (NYSE: IAUX) reported Q3 2024 operating results and announced a new development plan. The company aims to become a Nevada-focused mid-tier gold producer by the early 2030s, targeting 400,000-500,000 ounces annually through the development of five gold mines. Q3 financial highlights include: revenue of $11.5 million, gold sales of 3,063 ounces at $2,422 per ounce, and a loss of $0.10 per share. The company ended Q3 with $21.8 million in cash. Management is implementing a two-phase recapitalization plan to restructure debt and secure additional financing, with completion targeted for Q1 2025.